Annaly (NLY) Approves $1.5B Common Buyback Plan
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Price: $18.23 +1.33%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 13.8%
EPS Growth %: -37.7%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 13.8%
EPS Growth %: -37.7%
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Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”) today announced that its Board of Directors has authorized the repurchase of up to $1.5 billion of its outstanding common shares over a 12 month period.
Purchases made pursuant to the program will be made in either the open market or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The authorization does not obligate the Company to acquire any particular amount of common shares and the program may be suspended or discontinued at the Company’s discretion without prior notice. The Board will assess the effects of this program at its completion.
Purchases made pursuant to the program will be made in either the open market or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The authorization does not obligate the Company to acquire any particular amount of common shares and the program may be suspended or discontinued at the Company’s discretion without prior notice. The Board will assess the effects of this program at its completion.
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